And to quote Brad (missing from above)
"WE ARE JUST GETTING STARTED ... "
Splitit CEO and Managing Director, Brad Paterson, said: “We are excited to welcome North American and Global institutional investors to our register. With the business foundations in place and our strategy working well, this equity raising allows us to take things to the next level. We are the only BNPL provider servicing the huge and growing credit card industry and our investors recognise the enormous opportunity to accelerate merchant and customer adoption across our key markets. Our business outlook remains extremely positive, with a healthy pipeline of new merchants and as we work towards activating our strategic partnerships with Visa and Mastercard. We are just getting started and I look forward to building on this positive momentum.”
Share Purchase PlanSplitit is also pleased to announce its intention to offer all eligible shareholders (being those persons registered as ordinary shareholders as at 7.00pm (Sydney time) on Tuesday, 4 August 2020 with a registered address in Australia or New Zealand) (“Eligible Shareholders”) the opportunity to participate in a non-underwritten SPP to raise up to A$10 million. Under the SPP, Splitit shares will be issued at the placement price of A$1.30 and will rank equally with existing Splitit shares.
The SPP will provide each Eligible Shareholder with the opportunity to apply for up to A$30,000 of Splitit shares, subject to the terms and conditions of the SPP and other eligibility criteria to be set out in the SPP offer booklet to be dispatched to Eligible Shareholders in due course.
Splitit reserves the right to scale back applications under the SPP at its absolute discretion.
Let the melt up begin!
